Work with us. Are you ready to change the game? Find out more →

News & Blog

Technology Solutions for Healthcare Payers and Benefit Administrators

News & Blog

Shortlister Connect is a tool specifically designed to be utilized by the HR and Procurement/Sourcing teams within mid-size, large and jumbo employers. Used by most of the top employee benefits consultants in the US, Shortlister is where you can find, research and select HR and benefits vendors for your clients. Compensation is traditionally the direct financial payments made to employees for their labor, while benefits are the indirect pay that employees receive, such as insurance, retirement contributions, and PTO. Use self-service portals to allow employees to change their elections as they experience life events. Manage benefits, including open enrollment and flexible spending accounts from any device. Get real-time notifications on things like enrollment reminders and claim status so nothing gets overlooked.

HR also needs to give employees a straightforward and intuitive self-service portal from which to view and manage benefits. Nobody should feel like they are going through Benefits enrollment alone. Administrators need easy to use benefits administration software to manage employee enrollments and employees need straightforward user experience for reviewing and choosing plans. Innovative Employee Solutions provides payroll and benefits administration services to companies nationwide.

In addition, the data collection process is integrated with insurance carriers, which also drastically reduces the opportunity for error. An employee benefits software system that HR, managers, and employees can use to manage workplace benefits. It cuts out the traditional paperwork and automates employees’ benefits eligibility, elections, and enrollment in medical, dental, and other ancillary options.

Find Benefits Administration Software

Benefits administration software streamlines all benefits operations, saving your HR team much needed time. In addition, all employee benefits data is held in one portal, meaning you can analyze all benefits information and create detailed reports about what benefits are used most or least. This provides you with valuable action points for benefits administration.

Benelogic develops intuitive software applications designed to simplify employee benefits administration and streamline benefits data transfer. By applying a logical approach to benefits administration, we design and support end to end products and services. Enrollment and eligibility data is exchanged electronically though an advanced, EDI-enabled, Software as a Service platform.

enterprise benefits administration software solutions

However, once you get the hang of the formulas and code, it’s fairly easy-to-use. Technology Advice is able to offer our services for free because some vendors may pay us for web traffic or other sales opportunities. Our mission is to help technology buyers make better purchasing decisions, so we provide you with information for all vendors — even those that don’t pay us.

The True Cost of Payroll Services

Thankfully, benefits administration software streamlines many of the actual tasks of benefits administration. Automating manual processes is a crucial strategy for creating essential administrative efficiency and cost-savings. An employee benefits platform is a software suite that allows employees to electronically enroll and make benefit changes.

The software is very easy to set up and figure out and has all the features any small or medium-sized business would need. However, it does have some functional limitations and its subgroup organization can be all over the place. However, the interface is not very user-friendly and the mobile browser navigation is all over the place.

Paypro Workforce Management

Zenefits is designed to cater to startups, small, and medium-sized businesses. It is a complete HRIS system, which means its services go beyond benefits administration. With additional services like payroll and other HR solutions, it centralizes all benefits-related processes. Benefit administration platforms allow organizations to plan and administer employee benefits packages and ensure compliance with local, state, federal, and international regulations.

  • Rippling starts at $8 per month per user, but the final fee you pay will vary depending on which modules you’d like to use and for how many people.
  • Legislation that concerns labor and employment such as HIPPA, COBRA and FMLA are a few of the bylaws that should be consulted and referred to when determining what is due for an employee.
  • See all the benefits and capabilities of BerniePortal’s all-in-one benefits administration & HR software.
  • Employees should be able to access their secure portal 24/7 from home in case their spouse has questions or needs to input information.
  • As a result, the software should also be integrated across your entire organization.

A well-managed benefits program could be the recipe for keeping the best talent. For more than 30 years, EBG Systems has been the leading provider of software for the pension and employee benefits industries. Our products include web-based retirement plan design, Cash Balance, and Client/Task Management software.

Compliance management

High-quality integrates enable automated data flow from system to system, eliminating the need to update information in multiple systems manually. Many systems are also modularized, so buyers only need to purchase the specific benefits administration features that the organization needs. Most BA tools include some form of benefits reporting for what is enterprise software compliance and audit purposes. But platforms like BambooHR, Benefitfocus BenefitsPlace, Gusto, Rippling, and Zenefits can give you deeperbusiness intelligence data on the type of benefits and plans your employees are choosing and why. This BI data is packaged up in smart-lookingdata visualizationsfor you to present to management and executives.

enterprise benefits administration software solutions

Connectivity with these systems is essential for the companies to provide a seamless and complete benefits delivery to the employees. An effectively managed benefits program may solve issues with staff and resources. Having functionally rich and easy-to-use software could help both employers and employees maximize the usage of the HR tools as well as the use of the benefits. This is where benefits administration can be useful as these tools can help organizations streamline the benefits administration process through automation tools.

What should be automated in employee benefits administration?

Providing defined benefit valuation software, Opeb/fas 106 valuation software, defined benefit pension administration software and actuarial services and consulting. Leverage a robust library of qualifiers to define eligiblity rules for plans, options, rates, enrollments and taxation parameters. Talent Attract and retain your people with recruiting, performance management, goals, and recognition. Not all HR software providers are created equal when it comes to customer support. Thanks to our highly personalized, expert, and proactive approach to service, Netchex has one of the highest customer satisfaction scores in the industry.

Manual benefits administration processing is prone to human errors, especially for big companies with thousands of employees. Aside from that, there’s always the risk of losing important employee documents when handling printed forms. Benefits administration software digitizes and automates data collection for enrollment and other tasks, then stores all employee data securely in one place. Ceridian Dayforce HCM is a cloud-based platform encompassing HR, payroll, benefits, and talent and workforce management. It provides companies with a scalable framework and real-time data, such as continual pay calculations, to enable efficient decision-making. But, when it comes to straight-up BA, you can’t beat Zenefits, our definitive Editors’ Choice in this category, when it comes to sheer benefits options, added features, and ease of use.

Ceridian Dayforce HCM

Netchex makes Benefits Administration easy, straightforward, and worry-free. Get a one-on-one demo of our platform and take your business to the next level. When we send in a list of items that would make the program better, we get a call and a walk-through of the issues and proposed resolutions. That personal touch makes it nice as we are sure we are being heard and can explore the why, how, who and when.

GoCo also gives employees the freedom of self-service benefits enrollment, and allows them to contrast eligible plans and costs at-a-glance. Benefits administration software saves time managing and scaling benefits administration processes. By centralizing benefits administration to a single platform, businesses can more easily monitor their own benefits expenses and budgeting. It also improves employees’ ability to self-serve their benefits information, such as selecting plans and accessing 3rd party providers. The solutions can also streamline and guide compliance with regulations like the Affordable Care Act.

Ease offers a digital enrollment process complete with a progress dashboard for admins, a mobile app with 24/7 access, broker support, and an EaseConnect system that facilitates seamless submission to carriers. The software is user-friendly and designed to reduce errors by advancing to the next step only after applicants enter all necessary information. Thanks to an abundance of HR software popping up, today’s human resources departments have a much easier time taking care of their day-to-day tasks. One of the more complicated of those tasks is benefits management, better known as employee benefits administration. Luckily, managing the complex processes of this task can be done with benefits administration software. Along with comprehensive HR and payroll platforms such as BambooHR and Gusto, the startup-focused BA tools also automate benefits onboarding and processes wherever possible.

Next Steps for Your Employee Benefits Administration

Paycor offers benefits dashboards and robust reports to help contain costs. The overall experience is good as the program fulfills its purpose well, making life easier for companies that need payroll software. For example, if the bulk of your employees are fresh out of college, a financial wellness benefit that helps them pay off their student debt will be a very attractive offering. You could also survey your employees if you’re on the fence about a certain benefit to see if it’s something they actually want and would use.

Leave a Reply

Your email address will not be published. Required fields are marked *